A brand can be a company’s most valuable asset – yet how do you know what it’s really worth? Measuring the value of a brand starts with knowing what to measure – and how.
No-one wants to pay ‘just for the name’ yet branding power means we often do. One of those intangible but valuable things, branding influences the decisions of customers, financial institutions, potential buyers of the business and more. And some brands are worth a lot. Yet not all measures are monetary and there are many different approaches and methods used around the world, which makes true comparisons and benchmarking somewhat tricky.
ISO 20671, Brand evaluation – Principles and fundamentals, aims to standardize the technical requirements and evaluation methods involved in brand valuation. It complements ISO 10668, Brand valuation – Requirements for monetary brand valuation, which focuses primarily on the financial aspects.